Living Stream Ministry 
The information on this page was last updated 4/8/2026. If you see errors or omissions, please email: [email protected]
Summary
Living Stream Ministry publishes the works of Watchman Nee and Witness Lee, providing the authoritative and definitive collections of treasures from these two servants of the Lord Jesus Christ. The writings of Watchman Nee and Witness Lee focus on the enjoyment of the divine life, which all the believers possess, and on the building up of the church, the goal of God's work with man in this age.
Contact information
Mailing address:
Living Stream Ministry
2431 W. LA Palma Avenue
Anaheim, CA 92801
Website: LSM.org
Phone: 714-991-4681
Email: [email protected]
Organization details
EIN: 237031637
CEO/President: Raymond Graver
Chairman:
Board size: 15
Founder:
Ruling year: 1969
Tax deductible: Yes
Fiscal year end: 12/31
Member of ECFA: No
Member of ECFA since:
Purpose
Mission statement
Statement of faith
Holding the Bible as the complete and only divine revelation, we strongly believe that God is eternally one and also eternally the Father, the Son, and the Spirit, the three being distinct but not separate. We hold that Christ is both the complete God and the perfect man. Without abandoning His divinity, He was conceived in the womb of a human virgin, lived a genuine human life on earth, and died a vicarious and all-inclusive death on the cross. After three days He resurrected bodily and has ascended to the heavens. He is now in glory, fully God but still fully man. We look to His imminent return with the kingdom of God, by which He will reign over the earth in the millennium and in eternity. We confess that the third of the Trinity, the Spirit, is equally God. All that the Father has and is, is expressed by the Son; and all that the Son has and is, is realized as the Spirit. We further believe that mankind is in need of God's salvation. Though we were absolutely unable to fulfill the heavy demands of God's righteousness, holiness, and glory, Christ fulfilled all the requirements through His death on the cross. Because of Christ's death, God has forgiven us of our sins, reconciled us to Himself, and justified us by making Christ our righteousness. Based on Christ's redemption, God regenerates the redeemed with His Spirit to consummate His salvation, that they may become His children. Now possessing God's life and nature, the believers enjoy a daily salvation in His Body in this age and the eternal salvation in the coming age and in eternity. In eternity we will dwell with God in the New Jerusalem, the consummation of God's salvation of His elect.
Articles
| 3/26/2025 | Ministry Spotlight: Living Stream Ministry |
Donor confidence score
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Transparency grade
D
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Financial efficiency ratings
Sector: Christian Growth
| Category | Rating | Overall rank | Sector rank |
| Overall efficiency rating | | 994 of 1391 | 44 of 72 |
| Fund acquisition rating | | 468 of 1391 | 22 of 72 |
| Resource allocation rating | | 816 of 1391 | 33 of 72 |
| Asset utilization rating | | 1297 of 1392 | 68 of 72 |
To understand our financial efficiency ratings, click here.
Financial ratios
| Funding ratios | Sector median | 2024 | 2023 | 2022 | 2021 | 2020 |
Return on fundraising efforts Return on fundraising efforts = Fundraising expense / Total contributions | 6% | 0% | 0% | 0% | 0% | 0% |
Fundraising cost ratio Fundraising cost ratio = Fundraising expense / Total revenue | 4% | 0% | 0% | 0% | 0% | 0% |
Contributions reliance Contributions reliance = Total contributions / Total revenue | 74% | 19% | 22% | 23% | 42% | 14% |
Fundraising expense ratio Fundraising expense ratio = Fundraising expense / Total expenses | 4% | 0% | 0% | 0% | 0% | 0% |
Other revenue reliance Other revenue reliance = Total other revenue / Total revenue | 26% | 81% | 78% | 77% | 58% | 86% |
| Operating ratios | Sector median | 2024 | 2023 | 2022 | 2021 | 2020 |
Program expense ratio Program expense ratio = Program services / Total expenses | 80% | 80% | 80% | 83% | 81% | 81% |
Spending ratio Spending ratio = Total expenses / Total revenue | 97% | 88% | 80% | 101% | 63% | 108% |
Program output ratio Program output ratio = Program services / Total revenue | 80% | 71% | 64% | 83% | 51% | 87% |
Savings ratio Savings ratio = Surplus (deficit) / Total revenue | 3% | 12% | 20% | -1% | 37% | -8% |
Reserve accumulation rate Reserve accumulation rate = Surplus (deficit) / Net assets | 3% | 2% | 4% | 0% | 7% | -1% |
General and admin ratio General and admin ratio = Management and general expense / Total expenses | 13% | 20% | 20% | 17% | 19% | 19% |
| Investing ratios | Sector median | 2024 | 2023 | 2022 | 2021 | 2020 |
Total asset turnover Total asset turnover = Total expenses / Total assets | 1.11 | 0.15 | 0.15 | 0.15 | 0.12 | 0.12 |
Degree of long-term investment Degree of long-term investment = Total assets / Total current assets | 1.43 | 2.73 | 2.90 | 3.24 | 3.40 | 4.41 |
Current asset turnover Current asset turnover = Total expenses / Total current assets | 1.77 | 0.41 | 0.43 | 0.49 | 0.41 | 0.55 |
| Liquidity ratios | Sector median | 2024 | 2023 | 2022 | 2021 | 2020 |
Current ratio Current ratio = Total current assets / Total current liabilities | 10.83 | 30.98 | 19.74 | 18.41 | 21.72 | 19.76 |
Current liabilities ratio Current liabilities ratio = Total current liabilities / Total current assets | 0.07 | 0.03 | 0.05 | 0.05 | 0.05 | 0.05 |
Liquid reserve level Liquid reserve level = (Total current assets - Total current liabilities) / (Total expenses / 12) | 5.93 | 28.00 | 26.63 | 23.18 | 28.25 | 20.88 |
| Solvency ratios | Sector median | 2024 | 2023 | 2022 | 2021 | 2020 |
Liabilities ratio Liabilities ratio = Total liabilities / Total assets | 9% | 1% | 2% | 2% | 2% | 2% |
Debt ratio Debt ratio = Debt / Total assets | 0% | 0% | 0% | 0% | 0% | 0% |
Reserve coverage ratio Reserve coverage ratio = Net assets / Total expenses | 76% | 650% | 664% | 649% | 824% | 796% |
Financials
| Balance sheet | |||||
| Assets | 2024 | 2023 | 2022 | 2021 | 2020 |
| Cash | $18,199,233 | $14,109,067 | $15,976,952 | $20,917,710 | $12,472,291 |
| Receivables, inventories, prepaids | $10,858,125 | $11,125,877 | $11,224,076 | $10,742,043 | $9,959,651 |
| Short-term investments | $13,512,776 | $14,253,942 | $6,800,933 | $819,954 | $708,477 |
| Other current assets | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $42,570,134 | $39,488,886 | $34,001,961 | $32,479,707 | $23,140,419 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 |
| Fixed assets | $73,450,763 | $74,883,354 | $76,088,387 | $77,816,549 | $78,785,146 |
| Other long-term assets | $225,616 | $54,000 | $2,500 | $2,500 | $186,909 |
| Total long-term assets | $73,676,379 | $74,937,354 | $76,090,887 | $77,819,049 | $78,972,055 |
| Total assets | $116,246,513 | $114,426,240 | $110,092,848 | $110,298,756 | $102,112,474 |
| Liabilities | 2024 | 2023 | 2022 | 2021 | 2020 |
| Payables and accrued expenses | $948,483 | $1,083,130 | $930,486 | $691,744 | $437,851 |
| Other current liabilities | $425,546 | $917,352 | $916,089 | $803,815 | $732,972 |
| Total current liabilities | $1,374,029 | $2,000,482 | $1,846,575 | $1,495,559 | $1,170,823 |
| Debt | $0 | $0 | $0 | $0 | $0 |
| Due to (from) affiliates | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $166,787 | $176,787 | $202,790 | $406,985 | $406,983 |
| Total long-term liabilities | $166,787 | $176,787 | $202,790 | $406,985 | $406,983 |
| Total liabilities | $1,540,816 | $2,177,269 | $2,049,365 | $1,902,544 | $1,577,806 |
| Net assets | 2024 | 2023 | 2022 | 2021 | 2020 |
| Without donor restrictions | $110,896,685 | $108,057,553 | $104,366,365 | $103,081,984 | $98,513,238 |
| With donor restrictions | $3,809,012 | $4,191,418 | $3,677,118 | $5,314,228 | $2,021,430 |
| Net assets | $114,705,697 | $112,248,971 | $108,043,483 | $108,396,212 | $100,534,668 |
| Revenues and expenses | |||||
| Revenue | 2024 | 2023 | 2022 | 2021 | 2020 |
| Total contributions | $3,808,799 | $4,692,918 | $3,742,982 | $8,856,075 | $1,632,885 |
| Program service revenue | $7,517,831 | $6,389,162 | $5,649,244 | $5,431,865 | $4,890,190 |
| Membership dues | $0 | $0 | $0 | $0 | $0 |
| Investment income | $1,230,721 | $2,817,895 | $237,696 | $56,826 | $123,754 |
| Other revenue | $7,555,875 | $7,164,054 | $6,908,832 | $6,582,184 | $5,059,974 |
| Total other revenue | $16,304,427 | $16,371,111 | $12,795,772 | $12,070,875 | $10,073,918 |
| Total revenue | $20,113,226 | $21,064,029 | $16,538,754 | $20,926,950 | $11,706,803 |
| Expenses | 2024 | 2023 | 2022 | 2021 | 2020 |
| Program services | $14,189,548 | $13,453,489 | $13,795,869 | $10,654,591 | $10,211,725 |
| Management and general | $3,467,631 | $3,442,574 | $2,851,606 | $2,504,756 | $2,417,416 |
| Fundraising | $0 | $0 | $0 | $0 | $0 |
| Total expenses | $17,657,179 | $16,896,063 | $16,647,475 | $13,159,347 | $12,629,141 |
| Change in net assets | 2024 | 2023 | 2022 | 2021 | 2020 |
| Surplus (deficit) | $2,456,047 | $4,167,966 | ($108,721) | $7,767,603 | ($922,338) |
| Other changes in net assets | $0 | $0 | $0 | $0 | $0 |
| Total change in net assets | $2,456,047 | $4,167,966 | ($108,721) | $7,767,603 | ($922,338) |
Compensation
| Name | Title | Compensation |
| Martin Fuller | Research Writer | $153,246 |
| Tony H Espinosa | Research Writer | $150,764 |
| Andrew Delos Reyes | IT Infrastructure Engineer | $139,906 |
| Titus Boswell | Asst. Facilities Manager | $135,338 |
| Ilerioluw Oladele | Director | $133,739 |
| Ron Kangas | Director | $126,149 |
| Ed Marks | Director | $124,593 |
| Hector Felix | Computer Programmer | $124,297 |
| Curtis Kennard | VICE PRESIDENT & Treasurer | $100,765 |
| Samuel Lee | ASSISTANT TREASURER | $95,162 |
| Dennis Higashi | Director | $90,531 |
| Kerry Robichaux | ASSISTANT SECRETARY | $88,430 |
| Yorke Warden | Secretary | $72,107 |
| Raymond Graver | PRESIDENT | $49,408 |
| George Danker | Director | $35,830 |
| David Koo | Director | $32,868 |
| Bryan Karr | Director | $25,470 |
| Joe Davis | Director | $5,856 |
Compensation data as of: 12/31/2024
Response from ministry
No response has been provided by this ministry.
The information below was provided to MinistryWatch by the ministry itself. It was last updated 4/8/2026. To update the information below, please email: [email protected]